Maple Ridge and Pitt Meadows tied at No 2 in list of Top BC Investment Towns

July 25, 2013

July 25th Langley, BC - The Real Estate Investment Network (REIN) released the 2013 edition of its Top British Columbia Investment Towns report today. The 110-page report analyzes the current and future prospects for real estate investment opportunities in the province over the next decade and has ranked Maple Ridge and Pitt Meadows as top investment communities in BC. This marks the third consecutive year that Maple Ridge and Pitt Meadows have ranked second on the list of top investment communities in the province by REIN.

With approximately 65% of Maple Ridge residents currently commuting to other regions for work, REIN believes no area in British Columbia will be impacted more significantly by the completion of Gateway Program. In 2009, the new Golden Ears Bridge officially opened to traffic. The 6-lane bridge is the first direct route from the communities of Maple Ridge and Pitt Meadows to Langley and Surrey. The transportation improvement has finally provided Maple Ridge and Pitt Meadows with a direct link to Highway 1 and has reduced the time it takes to travel to Vancouver and the surrounding region.

The population of both communities is already beginning to experience rapid growth. Between 2006 and 2011, the District of Maple Ridge recorded a population of growth of 10.3% while Pitt Meadows witnessed a population increase of 13.5%, both significantly above the provincial average of 7% during the same time period. The region’s affordability in conjunction with the new transportation changes will drive even more residents into the areas in the near future, which will of also drive up property values and rents.

“Both communities have been hampered by poor transportation infrastructure for decades, detracting people from moving to the area and keeping real estate prices low,” said Don R. Campbell, one of the report authors and Senior Analyst at REIN. “The completion of the Golden Ears Bridge between Langley and Maple Ridge in 2009 and the opening of the new Port Mann Bridge in 2012 has brought the one-time sleepy Fraser Valley farming communities closer to Vancouver. Real estate prices remain relatively low…for now. As more people begin to realize what these two growing communities have to offer, demand will increase and prices will rise. Savvy real estate investors have begun to see the long-term growth potential of both communities.”

Founded in 1993, The Real Estate Investment Network Ltd. (REIN) has grown over the years to become Canada’s leading real estate research and education organization for investors and homeowners across North America. REIN does not sell or market real estate to its members or the general public, but instead conducts objective and unbiased research, analysis and investor education. For further information on REIN, visit www.reincanada.com.

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For an interview with one of the report’s authors, please contact: Melanie Reuter 1-888-824-7346 melanie@reincanada.com